Moldovan MPs make amendments to law on banks' work

Chisinau, 27 February /MOLDPRES/ - The parliament, at a today’s plenary meeting, approved, in two readings, a draft law on the interpretation of the article 521 from the law on the work of banks.     

The legislative initiative belongs to a lawmaker of the Party of Socialists (PSRM), Vladimir Golovatiuc, and clearly establishes that, in the procedure of cancellation, issuance, sale, redemption and  conversion of the participation quotas held with non-observance of the requirements as to the quality of shareholders, the bank can carry out operations through which it gets right of ownership over the newly issued shares and registers in the bank’s account only in the cases and conditions established in the article 521 of the law on the work of the banks.   

The draft was consulted with the National Bank of Moldova, Association of Banks from Moldova, commercial banks.